Increase of sales during the first quarter of the FY 2015/2016
At the Annual Analysts’ Presentation that took place today at the Hellenic Fund and Asset management Association in Athens, the Group’s activities, the financial results of the Jumbo Group as well as the management of the current situation in Greece were presented.
The financial year that ended in June 30th, 2015 recorded a significant increase in the turnover and profitability of the Group.
Sales exceeded EUR 582,55 million compared to EUR 541,85 million of the previous 12 months. The increase in turnover by + 7.51% y-o-y exceeded significantly the target of 4% -6% that had been set at the beginning of the financial year.
Despite the strengthening of the Dollar against the Euro, gross margin reached 53.16% against 53.12% of last year. This result is partly due to the product mix and the decrease in freight rates.
EBITDA, at Group level, reached EUR 159,26 million from EUR 146,52 million of the last fiscal year, implying an increase of +8,7% y-o-y.
Respectively, the net earnings for the Group reached EUR 104,84 million from EUR 101,25 million, increased by +3,54% y-o-y.
The management due to capital controls in Greece will propose at the Annual General Meeting of the shareholders that will be held on 11.11.2015, the non-dividend distribution for the fiscal year ended at 30.06.2015 and this will be applied until the economy stabilizes and creates prospects for smooth growth in Greece.
During the financial year July 2014- June 2015, the Group operated 7 new hyper- stores: 2 in Greece, 1 in Cyprus and 4 in Romania. During the same period, the leased store in Aspropyrgos terminated its operation.
Today, the Group’s network has 72 stores, 53 out of which are located in Greece, 5 in Cyprus, 8 in Bulgaria and 6 in Romania as well as the online store e-jumbo.
With respect to the new financial year that started at July 1st 2015 during a difficult period for the Greek economy, in time of great uncertainty, the Group was timely prepared in time to have sufficient reserves to cope with the initial shock. Also, the Group's companies were sufficiently capitalized, with no liquidity problems and zero debt.
During the first quarter (July – September 2015) the sales for the Group reached € 152,62 million from € 145 million at the respective period of last year implying an increase of 4,88% y-o-y. This performance is attributed to the slight decrease of sales of the stores in Greece while the stores in Cyprus, Bulgaria and Romania continue to record a dynamic growth rate.
Regarding the new financial year according to the Group’s budget the sale’s change y-o-y in Greece is estimated to range between -5% and 0%, in Cyprus 5% to 8%, in Bulgaria 10% to 12% while in Romania they will get doubled. As a result, the sales of the Group are expected to grow between 0% and 4%. Regarding the estimated after-tax profits, in accordance with the Group's budget, is expected to decline between 25% and 15%. After the end of the second quarter, which includes the Christmas season and which is the most important quarter for the year, the management will come back then with latest estimates.The company’s management informed the investors that in a few days it is expected the opening of the seventh hyper-store at Pitesti (12.000sqm). It is noted that Romania is the county where the Group will focus its investment plan at the following years.
Regarding the investment plans in Greece the Group is aiming at the restructuring of the network based mainly on increasing productivity. This includes the replacement of small first generation stores with new hyper stores in areas that the Group still has no presence.
The presentation is available at the Company’s website www.jumbo.gr
The financial year that ended in June 30th, 2015 recorded a significant increase in the turnover and profitability of the Group.
Sales exceeded EUR 582,55 million compared to EUR 541,85 million of the previous 12 months. The increase in turnover by + 7.51% y-o-y exceeded significantly the target of 4% -6% that had been set at the beginning of the financial year.
Despite the strengthening of the Dollar against the Euro, gross margin reached 53.16% against 53.12% of last year. This result is partly due to the product mix and the decrease in freight rates.
EBITDA, at Group level, reached EUR 159,26 million from EUR 146,52 million of the last fiscal year, implying an increase of +8,7% y-o-y.
Respectively, the net earnings for the Group reached EUR 104,84 million from EUR 101,25 million, increased by +3,54% y-o-y.
The management due to capital controls in Greece will propose at the Annual General Meeting of the shareholders that will be held on 11.11.2015, the non-dividend distribution for the fiscal year ended at 30.06.2015 and this will be applied until the economy stabilizes and creates prospects for smooth growth in Greece.
During the financial year July 2014- June 2015, the Group operated 7 new hyper- stores: 2 in Greece, 1 in Cyprus and 4 in Romania. During the same period, the leased store in Aspropyrgos terminated its operation.
Today, the Group’s network has 72 stores, 53 out of which are located in Greece, 5 in Cyprus, 8 in Bulgaria and 6 in Romania as well as the online store e-jumbo.
With respect to the new financial year that started at July 1st 2015 during a difficult period for the Greek economy, in time of great uncertainty, the Group was timely prepared in time to have sufficient reserves to cope with the initial shock. Also, the Group's companies were sufficiently capitalized, with no liquidity problems and zero debt.
During the first quarter (July – September 2015) the sales for the Group reached € 152,62 million from € 145 million at the respective period of last year implying an increase of 4,88% y-o-y. This performance is attributed to the slight decrease of sales of the stores in Greece while the stores in Cyprus, Bulgaria and Romania continue to record a dynamic growth rate.
Regarding the new financial year according to the Group’s budget the sale’s change y-o-y in Greece is estimated to range between -5% and 0%, in Cyprus 5% to 8%, in Bulgaria 10% to 12% while in Romania they will get doubled. As a result, the sales of the Group are expected to grow between 0% and 4%. Regarding the estimated after-tax profits, in accordance with the Group's budget, is expected to decline between 25% and 15%. After the end of the second quarter, which includes the Christmas season and which is the most important quarter for the year, the management will come back then with latest estimates.The company’s management informed the investors that in a few days it is expected the opening of the seventh hyper-store at Pitesti (12.000sqm). It is noted that Romania is the county where the Group will focus its investment plan at the following years.
Regarding the investment plans in Greece the Group is aiming at the restructuring of the network based mainly on increasing productivity. This includes the replacement of small first generation stores with new hyper stores in areas that the Group still has no presence.
The presentation is available at the Company’s website www.jumbo.gr